lucid motors

Lucid Launches $3 Billion Stock Offering, Backed by Saudi Fund

Lucid Group, Inc. has officially declared the start of a public offering of 173,544,948 shares of its common stock today, May 31, 2023. This move by Lucid Group is set to raise around $3.0 billion in gross proceeds. BofA Securities, Inc. will serve as the book-running manager for this offering. The shares will be available […]

Lucid Gravity SUV Starts Public Road Testing in U.S. [VIDEO]

Lucid Group has announced that their upcoming Lucid Gravity electric SUV is advancing to its latest phase of development and testing. Building on the success of the Lucid Air, the Gravity SUV is now undergoing public road tests across the U.S. “I am excited to see the Gravity SUV moving forward so quickly in its […]

Lucid Motors Announces Layoffs Affecting 18% of Workforce, Says Memo

Luxury electric vehicle startup Lucid Motors plans to lay off hundreds of employees, affecting approximately 18% of the company, according to an internal memo and five anonymous sources reported by Business Insider. The announcement was made during an all-hands meeting by CEO Peter Rawlinson. With around 7,200 employees globally at the end of 2022, this […]

Lucid Recalls 637 Vehicles for Potential Loss of Power, Details NHTSA Notice

According to a recent National Highway Traffic Safety Administration (NHTSA) recall notice, Lucid USA, Inc. has issued a recall for 637 of its 2022-2023 Lucid Air vehicles due to a potential issue with contactors. These electrically activated switches are responsible for transferring energy to and from the drive units during vehicle startup and shutdown. In […]

Lucid Stock Drops 18% as Q4 Revenue Falls Short of Expectations

Electric vehicle (EV) startup automaker Lucid Motors held its fourth-quarter earnings call on Wednesday, in which its reported revenue failed to meet its own expectations for 2022, as reported by CNBC. The automaker finished the year with roughly $4.4 billion in cash, and around $500 million available through lines of credit which it expects to […]

Lucid Motors Stock Price Climbs 43% Amid Saudi Takeover Rumors

Lucid Motors saw its stock price jump by as much as 98% on Friday, closing at $12.87 per share (up 43%), as rumors of Saudi Arabia’s Public Investment Fund (PIF) considering a full takeover of the luxury electric automaker made the rounds — reports the Silicon Valley Business Journal. The news represents a breath of […]

Lucid Motors Raises $1.5 Billion Equity Offering

After Lucid Motors announced plans to raise additional funding in August, the startup electric vehicle (EV) maker has officially raised more money, primarily through one large sale of shares. Lucid said on Monday that it has raised $1.5 billion in a planned equity offering, with around $915 million coming from a private sale of around […]

Tesla Supplier Panasonic to Produce EV Batteries for Lucid Motors

Panasonic is shifting gears to start supplying hardware to automakers other than just Tesla, with a new company set to receive the manufacturer’s batteries. Tesla supplier Panasonic will now also supply rival automaker Lucid Group with electric vehicle (EV) batteries, according to a statement on Tuesday from the electronics manufacturer (via Reuters). “Partnerships with technology-leading […]

Lucid Motors Unveils Gravity Electric SUV, Coming in 2024 [VIDEO]

Lucid Motors launched the Gravity electric SUV in a press release and launch event held on Tuesday. The automaker is set to open reservations for the electric SUV in 2023, with deliveries slated for 2024. The Gravity SUV is currently undergoing its final vehicle design and spec confirmation at the Lucid AMP-1 factory in Casa […]

Lucid Motors Teases ‘Gravity’ SUV Ahead of November 15 Event

Lucid Motors is teasing the upcoming Gravity SUV ahead of its launch event, set for 10 a.m. pacific time on Tuesday according to a tweet from the company. The launch event can be accessed on the company’s Dream Ahead site, though users navigating to the page without early registration will need to wait until the […]

Lucid Motors Q3 2022: 2,282 Cars Produced, More than Triple Q2

Lucid Motors announced its Q3 2022 production numbers on Wednesday, saying it produced 2,282 electric vehicles, which is “more than triple Q2 production,” at its factory in Arizona, while delivering 1,398 cars in Q3. According to the company, these production numbers are in line with company expectations. Lucid says it is on track to produce […]